Symantec Catches a Bid

Investors gobbled up shares of Symantec ( SYMC) on Thursday, ahead of a meeting between Wall Street analysts and the company's new chief financial officer.

On strong volume, the shares were recently up 87 cents, or 5.4%, to $16.87.

"It's a buy in anticipation of good news tomorrow," said Rob Breza, an analyst with RBC Capital Markets. On Friday, analysts are meeting with new CFO James Beer, who left AMR ( AMR) last month to join the security software firm .

Breza also noted that the company had a nice boost to its consumer business after e-commerce software maker Digital River ( DRIV) " crushed their numbers ," and "that's a direct positive result for Symantec's consumer business." RBC does not do investment banking with Symantec.

"We do expect a healthy March quarter, and we think the stock represents an opportunity due to valuation," Owens said. "The stock has gotten awfully cheap." Pacific Crest does not own but makes a market in Symantec shares.

Breza also said that the positive results for Symantec's consumer business show that any concerns about Microsoft's ( MSFT) entry into the consumer market have not impacted the stock ... yet.

"At some point Microsoft will be a player," Breza said. "You never want to discount that little bucket shop out of Seattle."

As of Wednesday's close, Symantec had lost 8.5% of its value since the beginning of the year.